Transcripts For FBC Varney Company 20240713 : comparemela.c

Selling nba products. A stark warning from beijing, stay out of chinas sovereignty. Keep your mouth shut. Theres action on the trade front. The u. S. Has blacklisted 28 companies which are accused of helping in the repression of uighur muslims in western china. The Foreign Ministry there is considering retaliation. High level talks resume in washington this week, now with a more threatening backdrop. Its another day when the market reacts to headlines. Investors clearly worried again about china trade. The white house is also looking at limiting chinese stocks in u. S. Government Pension Funds. Now, were looking at a significant drop at the opening bell. The dow is off about 170, s p down 17, big drop for the nasdaq, down about 40 to 50 points. Heres what we have. Free speech threatened, American Business threatened, china playing hardball defense as it faces challenges from all sides. Varney company is about to begin. Stuart china trade, deputy level talks start today ahead of the high level talks coming at the end of the week. Edward lawrence joins us now. Hes right there at the talks. Edward, let me refer to liu he. Hes not traveling as a special envoy. Is there meaning in that . Reporter that is actually very significant, because it means that yes, hes a representative of china in these trade talks but it means that he does not speak for president xi jinping and that means he cant make those decisions that need to be made at the level right there at the table. Hell have to take what the u. S. Has to offer back to china and then someone else in china will make the decision, maybe even the president himself. What will affect the mood here, you touched on it earlier, the 28 companies that the u. S. Put on the chinese or on the blacklist. One of them is the Worlds Largest supplier of surveillance equipment and the Chinese Government owns a 40 stake in that company. Nothing affects the mood than the bottom line here. It should be very interesting to see if these talks go forward thursday, friday is when the decision will be made. Back to you. Stuart Edward Lawrence right there, thank you, edward. Im staying on this china story because it is literally exploding as we speak. Asia watcher gordon chang with us now. Plain and simple, this is an impossible situation for american executives who do business in china. Exactly. China right now feels itself to be more powerful but also desperate, so its requiring companies not only to express obedience, but i think eventually, this is going to be soon, they are going to require companies to implement communist Party Policies not only in china, but also outside. We have seen that with cathay pacific, the airline. This nba saga is a warning to us. What the nba has said, especially in its chinese statement, is despicable, craven, all the rest of it but we cant expect any American Business to stand up to a communist superstate. I think we are going to have to start protecting our companies and probably the only way to do that is to get them out of china. Stuart thats a major step. Get them out of china . How do you get disney out of china . How do you get apple out of china . Trading with the enemy act or the emergency economic powers act. Stuart thats extreme. That is extreme. What china is doing is extreme and its actually, we are seeing this from month to month, its actions becoming much more aggressive against foreign companies. Obviously, this is unfortunate but were not driving this, stuart. We have a choice. The nba saga shows this. We have a choice. Take chinese money or maintain, in our country, a free marketplace of ideas. You can have one or the other. You cant have both. We are going to have to decide how much we are going to do to defend our democracy. Yes, it is a terrible choice to make but china is forcing it. Stuart i need your comment on this. Hong kong executive carrie lam, shes warning that the Chinese Military could step in if the uprising, i will use that word, the uprising worsens. Are we going to see chinas military on the streets in hong kong soon . We may already be seeing them there. There are Hong Kong Police officers who cant speak cantonese in the cantonese speaking city. So there are Chinese Police officers, Peoples Armed police or soldiers wearing Hong Kong Police uniforms. Its partly because the Hong Kong Police have not been able to manage the situation. But what shes really talking about is a formal introduction of p. A. P. Or p. L. A. Units in hong kong. I dont think thats going to happen. The reason is this is going to be a very difficult situation for the Chinese Military. Remember, every Apartment Building in hong kong is a fort for the defenders. This is defender territory. China is going to take very high casualties if it moves into hong kong in a forceful way. Stuart you are talking about urban warfare. Flat out warfare. We have pretty much close to that now. Not quite. But it is an uprising. Stuart i have to move on but youre the man on this. We appreciate you being here. Thank you. Lets look at the white house. Okay. This has come to us. The white house is pushing to limit chinese stocks and their inclusion in u. S. Pension funds. What more do we have . Susan this is a big deal. We might be on our way to capital controls and full investment in chinese stocks in the future. You know, according to new rules by mid 2020 it looks like the federal retirement thrift Investment Board says we need to include most of the stocks that mirrors whats in the all country index, including a lot of chinese firms and its effect, 50 billion in Retirement Assets of federal Government Agencies including the u. S. Armed forces. So what the u. S. Is speaking about, this is separate from the chinese u. S. Trade talks, is limiting the amount of money that goes into these specific companies, maybe those that violate human rights, for instance, what about those that include the 28 companies that have been blacklist ed. Stuart you were right at the very beginning. This is a Movement Towards controlling capital flows. Susan right. Stuart big deal indeed. Susan where is the money coming from. A lot of it comes from International Markets like the u. S. Stuart i want to bring in james freeman, wall street Journal Editorial Board guy, with this. It seems to me the one huge negative for stocks as of right now is china. Am i right . I think thats right. This concern about trade, i think its partly the Market Reaction is people may be expecting too much out of these negotiations. Recent reports that china is not willing to stop subsidizing their National Champion industries, theyre not going to get away from stateowned enterprises, theyre not going to get away from industrial planning, i think its unreasonable to expect in negotiation theyre going to say okay, we are going to stop being communists. But we dont need to demand those things to get a win. If we get some progress on intellectual property, ending the theft of our inventions over there, allowing u. S. Businesses to compete, i think thats a huge win. Stuart so the best we can expect, the best we can even hope for, is a very limited, some kind of limited shortterm deal and an agreement to keep on talking for the rest of the year. Thats the best youre going to get. And tariffs going away and those tariffs due next week and more in december, not happening. Thats also a win. Stuart thats the best you can you can even hope for . I dont think you can reasonably expect them to say were going to stop industrial planning until stuart james, hold on a second. I have to segue, professional word, segue, move on to another issue. Britains Prime Minister, boris, hes told Germanys Angela Merkel right now, a brexit deal is essentially impossible. Ashley yeah, we have had a lot of badtempered words exchanged this morning between britain and the eu. There was a call between Boris Johnson and german chancellor Angela Merkel this morning and basically, what we understand is that chancellor merkel said that theres going to be no deal unless Northern Ireland remains in a Customs Union with the eu and as a result of that statement, number ten said forget it, this is just nearly impossible. If thats your stand, Everything Else is immaterial, this is not going to happen. The president of the European Council got very upset, put out a very sharpworded tweet that basically said whats at stake is not winning a stupid blame game. As we get closer to the october 31st deadline its getting uglier. Stuart it sure is. Its heating up. Ashley it is indeed. Stuart back to james freeman, wall street journal guy. You think bidens involvement in the ukraine scandal or the Hunter Bidens involvement there and in china, does that mean the end of bidens campaign, do you think . I think if he doesnt come up with some kind of explanation, and i think the reasonable conclusion to this point is he doesnt have one yet, given that he had a chance in the Washington Post over the weekend to lay out his case in an oped, hes not defending these deals. Hes not explaining why they could possibly be legitimate even though they dont look that way. Stuart next tuesday night, the next debate, it will come up. I would expect it would come up. I would expect someone who is bouncing around in the single digit percentages in the polls is going to want to take some of that biden vote, is going to come after him. I also expect, now that Elizabeth Warren is up there, we will start getting questions about her and her past and her longtime claims of minority status. Stuart i might even watch that debate. James, thank you very much indeed. Wrap it all up, look at your money. Heres what we are going into the opening tuesday of the market. We will be down sharply, the dow, s p and nasdaq. Have a look at dominos, pizza guys. The stock is down 5 on a lackluster growth forecast and the Supreme Court says a lawsuit claiming that their website is not acceptable accessible to blind people. That lawsuit can proceed. We will deal with it. Look at this. National average for a gallon of gas, regular, across the country, 2. 64. What is it in california . Astonishing 4. 18 a gallon. We have gas buddy Patrick Dehaan coming up. Why on earth are californians paying so much . The Company Behind the wildly Popular Video game fortnite facing a lawsuit from parents who claim its as add t addictive as cocaine. Epic games, its maker, did nothing to warn parents about it. We have the story. Fbi issuing a warning about a rise in ransomware attacks, when a hacker freezes your computer and demands cash to unlock it. Where are the attacks coming from . Is there anything we can do to stop it . Tuesday morning, Varney Company rolling along. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Stuart this is tuesday morning. We are going to be down toeat t opening bell across the board. Take a look at beyond meat. Why dont you. Its Just Announced its expanding its partnership with carls jr. Beginning tomorrow. They are going to offer beyond barbecue cheeseburger. Beyond meat actually is down 50 cents at 144 a share. The fbi warning of a big increase to come on ransomware attacks. Our cyberguy is with us. First of all, ransomware, they lock up your computer, demand cash to unlock it. Got that. Where are these attacks coming from . Whos behind them . All over the globe, stuart. Good morning to you. The problem is they have now doubled in 2019, these attacks getting more and more sophisticated. According to a release from the fbi, which is very interesting that they came out with this proclamation. Dont pay these guys. Dont pay ransomware. Really . In the past they have said it might be reasonable to do so. Well, now they are saying the only way to really stop this problem is to for us all to be cohesive, get together and say all right, were not paying this any longer. How do you do that . Stuart thats somebodys Computer System is all tied up, cant do anything. Is there any way, other than not paying the ransom, nobody ever pays the ransom, other than that, is there any way to stop this . Yeah. They actually did come out with some very good advice for small and medium sized businesses. That is, disable macros so things in your email that let it launch other problems. Use viewing software for those attachments that you get that are concerning. Often thats where malware gets in your Computer System and creates this ransomware problem. Also, implement Software Restriction policies for all the employees to say hey, were not going to let you put all this junk on here that could invite this into our system and then the most important thing, back up, back up, back up but then make sure that that data is authentic and unplug it from the internet and from your network, and shove that puppy up on a shelf. Aside from that, very very expensive, Sophisticated Software is oftentimes out of the reach of most American Businesses. Unless you are a fortune 500 company or way north of that, north of a medium size business, you wont be able to afford that kind of protection. Stuart i will sum it up like this. What a mess. Thats it. Thats where we are. Thanks for joining us. Appreciate it. Back to your money. Yes, we will be down at the opening bell, down 180, 180 to 200 points off at the opening bell. Its all about china. A big legal blow to dominos. The Supreme Court cleared the way for a lawsuit filed by a blind man who claims the pizza chains website and app are not accessible to people with disabilities. Real bad news for dominos. This could affect every other business in this country. We will get into that, after this. Look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. Other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. Discover the option thats best for you. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Youve probably been investing in your home for years. Making monthly mortgage payments. Doing the right thing. And its become your familys heart and soul. Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, protect investments, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart its a down day. Look at the red arrows. When we open the market in a couple minutes time, the dow will be closes to 200 points and the nasdaq down more than 50. Now this. Look at the share price of dominos. Two reasons why its down. First of all, not a good forecast for the future. That hurts them. Plus, the Supreme Court has cleared the way for a lawsuit on the disabilities law against dominos. Ashley yeah, basically against its website and mobile app. This lawsuit was filed by a gentleman in los angeles three years ago. He says he was unable to order a pizza because dominos website lacked a Foreign Ministry<\/a> there is considering retaliation. High level talks resume in washington this week, now with a more threatening backdrop. Its another day when the market reacts to headlines. Investors clearly worried again about china trade. The white house is also looking at limiting chinese stocks in u. S. Government Pension Funds<\/a>. Now, were looking at a significant drop at the opening bell. The dow is off about 170, s p down 17, big drop for the nasdaq, down about 40 to 50 points. Heres what we have. Free speech threatened, American Business<\/a> threatened, china playing hardball defense as it faces challenges from all sides. Varney company is about to begin. Stuart china trade, deputy level talks start today ahead of the high level talks coming at the end of the week. Edward lawrence joins us now. Hes right there at the talks. Edward, let me refer to liu he. Hes not traveling as a special envoy. Is there meaning in that . Reporter that is actually very significant, because it means that yes, hes a representative of china in these trade talks but it means that he does not speak for president xi jinping and that means he cant make those decisions that need to be made at the level right there at the table. Hell have to take what the u. S. Has to offer back to china and then someone else in china will make the decision, maybe even the president himself. What will affect the mood here, you touched on it earlier, the 28 companies that the u. S. Put on the chinese or on the blacklist. One of them is the Worlds Largest<\/a> supplier of surveillance equipment and the Chinese Government<\/a> owns a 40 stake in that company. Nothing affects the mood than the bottom line here. It should be very interesting to see if these talks go forward thursday, friday is when the decision will be made. Back to you. Stuart Edward Lawrence<\/a> right there, thank you, edward. Im staying on this china story because it is literally exploding as we speak. Asia watcher gordon chang with us now. Plain and simple, this is an impossible situation for american executives who do business in china. Exactly. China right now feels itself to be more powerful but also desperate, so its requiring companies not only to express obedience, but i think eventually, this is going to be soon, they are going to require companies to implement communist Party Policies<\/a> not only in china, but also outside. We have seen that with cathay pacific, the airline. This nba saga is a warning to us. What the nba has said, especially in its chinese statement, is despicable, craven, all the rest of it but we cant expect any American Business<\/a> to stand up to a communist superstate. I think we are going to have to start protecting our companies and probably the only way to do that is to get them out of china. Stuart thats a major step. Get them out of china . How do you get disney out of china . How do you get apple out of china . Trading with the enemy act or the emergency economic powers act. Stuart thats extreme. That is extreme. What china is doing is extreme and its actually, we are seeing this from month to month, its actions becoming much more aggressive against foreign companies. Obviously, this is unfortunate but were not driving this, stuart. We have a choice. The nba saga shows this. We have a choice. Take chinese money or maintain, in our country, a free marketplace of ideas. You can have one or the other. You cant have both. We are going to have to decide how much we are going to do to defend our democracy. Yes, it is a terrible choice to make but china is forcing it. Stuart i need your comment on this. Hong kong executive carrie lam, shes warning that the Chinese Military<\/a> could step in if the uprising, i will use that word, the uprising worsens. Are we going to see chinas military on the streets in hong kong soon . We may already be seeing them there. There are Hong Kong Police<\/a> officers who cant speak cantonese in the cantonese speaking city. So there are Chinese Police<\/a> officers, Peoples Armed<\/a> police or soldiers wearing Hong Kong Police<\/a> uniforms. Its partly because the Hong Kong Police<\/a> have not been able to manage the situation. But what shes really talking about is a formal introduction of p. A. P. Or p. L. A. Units in hong kong. I dont think thats going to happen. The reason is this is going to be a very difficult situation for the Chinese Military<\/a>. Remember, every Apartment Building<\/a> in hong kong is a fort for the defenders. This is defender territory. China is going to take very high casualties if it moves into hong kong in a forceful way. Stuart you are talking about urban warfare. Flat out warfare. We have pretty much close to that now. Not quite. But it is an uprising. Stuart i have to move on but youre the man on this. We appreciate you being here. Thank you. Lets look at the white house. Okay. This has come to us. The white house is pushing to limit chinese stocks and their inclusion in u. S. Pension funds. What more do we have . Susan this is a big deal. We might be on our way to capital controls and full investment in chinese stocks in the future. You know, according to new rules by mid 2020 it looks like the federal retirement thrift Investment Board<\/a> says we need to include most of the stocks that mirrors whats in the all country index, including a lot of chinese firms and its effect, 50 billion in Retirement Assets<\/a> of federal Government Agencies<\/a> including the u. S. Armed forces. So what the u. S. Is speaking about, this is separate from the chinese u. S. Trade talks, is limiting the amount of money that goes into these specific companies, maybe those that violate human rights, for instance, what about those that include the 28 companies that have been blacklist ed. Stuart you were right at the very beginning. This is a Movement Towards<\/a> controlling capital flows. Susan right. Stuart big deal indeed. Susan where is the money coming from. A lot of it comes from International Markets<\/a> like the u. S. Stuart i want to bring in james freeman, wall street Journal Editorial Board<\/a> guy, with this. It seems to me the one huge negative for stocks as of right now is china. Am i right . I think thats right. This concern about trade, i think its partly the Market Reaction<\/a> is people may be expecting too much out of these negotiations. Recent reports that china is not willing to stop subsidizing their National Champion<\/a> industries, theyre not going to get away from stateowned enterprises, theyre not going to get away from industrial planning, i think its unreasonable to expect in negotiation theyre going to say okay, we are going to stop being communists. But we dont need to demand those things to get a win. If we get some progress on intellectual property, ending the theft of our inventions over there, allowing u. S. Businesses to compete, i think thats a huge win. Stuart so the best we can expect, the best we can even hope for, is a very limited, some kind of limited shortterm deal and an agreement to keep on talking for the rest of the year. Thats the best youre going to get. And tariffs going away and those tariffs due next week and more in december, not happening. Thats also a win. Stuart thats the best you can you can even hope for . I dont think you can reasonably expect them to say were going to stop industrial planning until stuart james, hold on a second. I have to segue, professional word, segue, move on to another issue. Britains Prime Minister<\/a>, boris, hes told Germanys Angela Merkel<\/a> right now, a brexit deal is essentially impossible. Ashley yeah, we have had a lot of badtempered words exchanged this morning between britain and the eu. There was a call between Boris Johnson<\/a> and german chancellor Angela Merkel<\/a> this morning and basically, what we understand is that chancellor merkel said that theres going to be no deal unless Northern Ireland<\/a> remains in a Customs Union<\/a> with the eu and as a result of that statement, number ten said forget it, this is just nearly impossible. If thats your stand, Everything Else<\/a> is immaterial, this is not going to happen. The president of the European Council<\/a> got very upset, put out a very sharpworded tweet that basically said whats at stake is not winning a stupid blame game. As we get closer to the october 31st deadline its getting uglier. Stuart it sure is. Its heating up. Ashley it is indeed. Stuart back to james freeman, wall street journal guy. You think bidens involvement in the ukraine scandal or the Hunter Bidens<\/a> involvement there and in china, does that mean the end of bidens campaign, do you think . I think if he doesnt come up with some kind of explanation, and i think the reasonable conclusion to this point is he doesnt have one yet, given that he had a chance in the Washington Post<\/a> over the weekend to lay out his case in an oped, hes not defending these deals. Hes not explaining why they could possibly be legitimate even though they dont look that way. Stuart next tuesday night, the next debate, it will come up. I would expect it would come up. I would expect someone who is bouncing around in the single digit percentages in the polls is going to want to take some of that biden vote, is going to come after him. I also expect, now that Elizabeth Warren<\/a> is up there, we will start getting questions about her and her past and her longtime claims of minority status. Stuart i might even watch that debate. James, thank you very much indeed. Wrap it all up, look at your money. Heres what we are going into the opening tuesday of the market. We will be down sharply, the dow, s p and nasdaq. Have a look at dominos, pizza guys. The stock is down 5 on a lackluster growth forecast and the Supreme Court<\/a> says a lawsuit claiming that their website is not acceptable accessible to blind people. That lawsuit can proceed. We will deal with it. Look at this. National average for a gallon of gas, regular, across the country, 2. 64. What is it in california . Astonishing 4. 18 a gallon. We have gas buddy Patrick Dehaan<\/a> coming up. Why on earth are californians paying so much . The Company Behind<\/a> the wildly Popular Video<\/a> game fortnite facing a lawsuit from parents who claim its as add t addictive as cocaine. Epic games, its maker, did nothing to warn parents about it. We have the story. Fbi issuing a warning about a rise in ransomware attacks, when a hacker freezes your computer and demands cash to unlock it. Where are the attacks coming from . Is there anything we can do to stop it . Tuesday morning, Varney Company<\/a> rolling along. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Stuart this is tuesday morning. We are going to be down toeat t opening bell across the board. Take a look at beyond meat. Why dont you. Its Just Announced<\/a> its expanding its partnership with carls jr. Beginning tomorrow. They are going to offer beyond barbecue cheeseburger. Beyond meat actually is down 50 cents at 144 a share. The fbi warning of a big increase to come on ransomware attacks. Our cyberguy is with us. First of all, ransomware, they lock up your computer, demand cash to unlock it. Got that. Where are these attacks coming from . Whos behind them . All over the globe, stuart. Good morning to you. The problem is they have now doubled in 2019, these attacks getting more and more sophisticated. According to a release from the fbi, which is very interesting that they came out with this proclamation. Dont pay these guys. Dont pay ransomware. Really . In the past they have said it might be reasonable to do so. Well, now they are saying the only way to really stop this problem is to for us all to be cohesive, get together and say all right, were not paying this any longer. How do you do that . Stuart thats somebodys Computer System<\/a> is all tied up, cant do anything. Is there any way, other than not paying the ransom, nobody ever pays the ransom, other than that, is there any way to stop this . Yeah. They actually did come out with some very good advice for small and medium sized businesses. That is, disable macros so things in your email that let it launch other problems. Use viewing software for those attachments that you get that are concerning. Often thats where malware gets in your Computer System<\/a> and creates this ransomware problem. Also, implement Software Restriction<\/a> policies for all the employees to say hey, were not going to let you put all this junk on here that could invite this into our system and then the most important thing, back up, back up, back up but then make sure that that data is authentic and unplug it from the internet and from your network, and shove that puppy up on a shelf. Aside from that, very very expensive, Sophisticated Software<\/a> is oftentimes out of the reach of most American Business<\/a>es. Unless you are a fortune 500 company or way north of that, north of a medium size business, you wont be able to afford that kind of protection. Stuart i will sum it up like this. What a mess. Thats it. Thats where we are. Thanks for joining us. Appreciate it. Back to your money. Yes, we will be down at the opening bell, down 180, 180 to 200 points off at the opening bell. Its all about china. A big legal blow to dominos. The Supreme Court<\/a> cleared the way for a lawsuit filed by a blind man who claims the pizza chains website and app are not accessible to people with disabilities. Real bad news for dominos. This could affect every other business in this country. We will get into that, after this. Look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan<\/a> isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. Other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. Discover the option thats best for you. Call today and find out more in aags free, noobligation reverse Mortgage Loan<\/a> guide. Access taxfree cash and stay in the home you love. Youve probably been investing in your home for years. Making monthly mortgage payments. Doing the right thing. And its become your familys heart and soul. Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan<\/a> to cover expenses, pay for healthcare, protect investments, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart its a down day. Look at the red arrows. When we open the market in a couple minutes time, the dow will be closes to 200 points and the nasdaq down more than 50. Now this. Look at the share price of dominos. Two reasons why its down. First of all, not a good forecast for the future. That hurts them. Plus, the Supreme Court<\/a> has cleared the way for a lawsuit on the disabilities law against dominos. Ashley yeah, basically against its website and mobile app. This lawsuit was filed by a gentleman in los angeles three years ago. He says he was unable to order a pizza because dominos website lacked a Reading Software<\/a> that he used on other sites. Now, as for their part, dominos argues that the law, the americans with disabilities act, applies to its store but not its website. However, as you just said, the Supreme Court<\/a> rejected this appeal from dominos and said no, it can go forward. So they are going to have to argue that in court. But you know, trade groups say they have seen a big increase in lawsuits alleging the web sites are not ada compliant. Stuart thousands of them across the country, website accessibility. Ashley its a big issue. Stuart the company that makes the popular fortnite game is facing a class action suit from parents. Over what . Susan they claim the game is addictive and potentially as harmful as cocaine and this goes along the same line as the 2015 Class Action Lawsuit<\/a> that contended the companies that made tobacco didnt warn them about the health implications. We know that 250 Million People<\/a> around the world play fortnite, right, and some have said th that one in five parents cant get their kids off of the game. So this will go to a hearing, you know, we have 30 days for epic games to respond. It wont take place for another year. But we did also have a Class Action Lawsuit<\/a> in california, and that contended that the games maker didnt allow the parents to control what the kids were paying and buying in the app because it makes gobs of money from kids that are buying what they call vbucks, the currency in the game. Ashley i dont know about this. Im not so sure about this. Stuart there is a commonality to a lot of these lawsuits. If you dont warn consumers of the potential risk, you are liable for anything bad that happens. Im not buying this. Same with the roundup lawsuit. It doesnt cause cancer. Susan its cause and effect. Stuart they just didnt advise people of the risks. Ashley kids watching video games all day, im sorry, maybe the parents are the ones that stuart right. Susan let the doikids do what y want and they say its the same tactic used by slot machines and when have slot machines been illegal . Stuart when have slot machines been liable for gambling . 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Stuart better take a look at activision, suspending a professional gamer because of comments he made about hong kong. Tell me more. Susan hes been suspended for a year, after donning a mask and saying liberate hong kong in a postmatch interview on one of their games. Dont forget, Activision Blizzard<\/a>, we have tencent, one of the largest conglomerates in china, only a 5 stake in Activision Blizzard<\/a>. This goes on with the nba, of course, and what happened with darryl morey and his tweet. But theyre very sensitive to this. When tencent which is one of chinas largest companies, owns 5 of the company, they have a lot of say. Stuart im sensitive to free speech. Im very sensitive to americans who want to do business in china and are able or frankly, right now, unable to open their mouths and say anything positive about hong kong protesters. That is a big problem for me. That is a flat out denial of free speech to americans. Theres something wrong going on here. Sorry to interrupt you. The opening bell is ringing. There they go, clapping and cheering. We have seven seconds to go and this big board will open. I confidently predict its going down. Check it now. I think we will be down about 200 points fairly soon. We just opened the market and we are indeed down 209 points. Lefthand side of your screen, for radio listeners, a sea of red. I can only see one stock in the dow 30, cocacola, which is up. The rest of them, down. The dow is down 221 points,. 8 . S p 500, is that down the same amount . Not quite. Its down about. 75 . As for the nasdaq, i know thats down. How much . Down about. 75 . Red cross the board. Caterpillar, dow stock. Ubs says sell it. Its lowered its price target and expects cat to go down to 117. It is almost there now. It is a traderelated stock. Thats another reason why its down. Here are more traderelated issues. With all thats going on in china, nvidia, boeing, broadcom, micron, all of them down. When you start quoting percentage declines, you know you have a selloff. Now look at these. These are the Big Chinese Companies<\/a> quoted over here. All of them down on the report the white house is considering restricting government pensions from using and investing and including chinese stocks. Okay. Were down. Check the market watcher mike murphy, joins us this morning. Welltimed appearance. Susan li, Ashley Webster<\/a> right now. Mike, is this now we are down 250 points. Is this all china . Yes. Stuart give me more. Its all about china. You are seeing the markets having big swings. Even yesterday we went from down over 100 points, up over 100 points, all on talk of china. Yes, this is being driven by china. But remember, the administration has also been out saying we could get some sort of a watereddown deal. So you are going to get a lot of headlines right now. The market is going to trade on the headlines but if we get a deal, its positive for the markets because people will see this as one risk off the table and money will come back in. Stuart can you get any kind of deal this week when youve got all of this stuff going on, nba susan blacklisting 28 chinese firms as well. Stuart that, too. Susan china says they will retaliate. The u. S. Says we will cap capital flows to china. At some point, some of this posturing has to filter out, what is real and what is just negotiating. Right . Stuart thats right. Whats a negotiating position and whats negotiable. What about Earnings Report<\/a> . We are about to start the earnings season. Could that rescue the market . It could for sure. It will rescue certain stocks, stocks of Certain Companies<\/a>. Apple, for instance, apple is hitting new highs, doing very well. No effect from china. But i think what i want to watch for in the market is not these risk on and risk off days where all tech is being sold or all tech is being bought. Individual companies are going to be rewarded or punished based on their earnings coming out starting next week. Thats what as an investor, what you want to see. If the company is doing well, you want to own the company. If not, you want to sell them. Stuart we are told to expect a 2 drop in profits this year compared to last year. Susan last year was so good. Yes. Stuart but last year the comps would have been good. However, dont analysts always kind of mark down their expectations . Susan its a game, isnt it . Stuart then they i hate this, expectations. Up goes the stock. Are we in for that . Absolutely. But thats a game thats always being played on wall street. Thats why rather than looking at overall earnings being plus or minus 2 , looking at individual companies, there are Certain Companies<\/a> out there like apple. I was in an apple store last night on fifth avenue. There were about 200 people standing in the rain at 8 30 p. M. Last night waiting to get into the store to get their hands on a new iphone. Susan thats a little different because its just reopening. It actually gets more visitors than the statue of liberty every year. Stuart the apple store on fifth avenue . Susan thats right. They report on october 30th and i think its iphone Sales Guidance<\/a> for the holiday period. It will be very important for apple, getting to the record levels again. Stuart im looking for a plus for the market. Im looking for something positive. How about this. The latest survey of Small Business<\/a> says no sign of recession right now. Ashley yeah. Stuart isnt that good . Ashley very good. The indication is continued job growth, Capital Spending<\/a> and inventory investment, says the nfib, all they say consistent with solid but they do point out Slower Growth<\/a>. The only fly in the ointment, the uncertainty they take a measure of has risen another two points, indicating some concern over the trade standoff. But overall, no sign of recession. Thats what well take from that. Stuart so what we are looking at now is a 220 point drop for the Dow Jones Industrial<\/a> average. Seems to me like its an unbalanced attack situation here, unbalanced in the sense that the china situation is so negative, it outweighs any good news you are getting on the economy and any good news we might have on profits. Thats why were down, 228 points. Have a look at the chip designer, you may not have heard of them, called amberella, down bigtime because one of its key customers was added to that export blacklist. The can sto stock is down 10 . Target upgraded to a strong buy by raymond james. Thats why its only down 30 cents at 107 per share. Oracle hiring 2,000 people in a down market. That doesnt count. They are off 1 . Southwest Airlines Pilots<\/a> suing boeing, saying the company misled them about the 737 max jet and they lost income. Boeing this morning about, what, 350, was it . I forgot. I didnt see it on the screen. Its down a little. General motors, their 2020 corvette sting ray reportedly to be delayed because of the fourth week of the uaw strike. So General Motors<\/a> Still Holding<\/a> at 34 a share. It was 37 when the strike started. The tenyear treasury yield, 1. 52 . Thats coming down. Money flowing into treasuries. The price of gold, wheres that . 1512, up, correctly predicted by ashley. 1512 an ounce. Lets have a look at gas prices. I think this is a big story. The average price for regular in america, 2. 64. In california, 4. 18 per gallon. Thats the average in california. For regular in california. We will get more on that shortly. Believe me, we will. Kroger and walgreens stop selling ecigs in america. Elizabeth warren blasting companies for layoffs. She has plans to return power to working people. Do you have any reaction to that . Dont hold yourself back, lad. What Elizabeth Warren<\/a> is running on is a socialist platform and she wants to take money she wants to take power and take it out of the hands of business owners, people who started companies and shareholders, and give it to the government. I believe that that has never worked in history and it wont work now. Stuart fundamentally wrong. Susan kroger employs 490,000 people across america. On average they say they pay 20 an hour including benefits. Most are unionized workers. They are just laying off a few hundred employees out of 490,000. Thats not a lot. Stuart socialists do not understand how to run a company. They dont like profit. If they dont like profit, how do you reinvest in the company . Kroger is desperately trying to compete with walmart and amazon. Elizabeth warren is going to take them away, take them to task . Ashley she will take away all of the jobs. The facts dont matter as long as you scream loud enough about it. Stuart i have been screaming myself this morning. Susan 2. 5 billion stock buybacks last week. They are doing financial engineering. Stuart the very popular impossible burger, very popular . Didnt know it was very popular. Susan it is. Its popular. Stuart thats a lobby, they had to lobby for its secret ingredient that makes its burger taste like meat. The company had to lobby for it. Does that mean theres a question about the health of this extra additive to make the stuff taste like meat . Absolutely not. I dont know the answer but i dont know if this ingredient is in beyond burgers as well as impossible. Susan its not a secret. They told us when they came on the show a few months ago. Its basically, they its very natural but they have to get fda approval to put it in the burger. Stuart theres a question of the Health Safety<\/a> of this . There are definitely questions about it. One thing for certain, theres a huge push across this country to a plantbased diet. That cant be argued. Thats what these guys are focusing on right now. Stuart okay. I have a comment about that but ill save it. Dow component apple, take a look at that. Believe it or not, it is very close to an alltime high. Look, its only down 80 cents today. Ashley in a market thats down bigtime. Stuart way, way down. Susan great stock. Know why . They are selling more iphones than expected, producing close to 10 more because they need to sell seven to eight million to meet demand for the christmas season. I said that before and you talked about the statue of liberty. Susan im telling you, the store reopened finally after being closed for two years. Theres a lot of pentup demand. I know my apple. Dont you worry. Stuart would you buy it at 226 . I would if i didnt own it. You can start a position here. I would rather buy on pullbacks but when you look at other companies out there, its not expensive based on what this companys doing and how they reinvented themselves. Stuart now that we have you not talking about the statue of liberty you make a lot of sense. Thank you very much, mike. Good stuff. 9 40 almost. We are down at the low of the day, down 250 points. That is the best part of 1 . Red arrows across the board. Got that. Next one, rough day at the office, question mark . Maybe crushing cars with a tank can help you blow off a little steam. Good video, at least. Ashley we need one of those. Stuart i desperately need one of those things. All right. Despite objections from lawmakers, in his own party, President Trump<\/a> standing his ground on pulling troops out of syria. What does the pentagon think . We are going to ask. Britains Prime Minister<\/a> Boris Johnson<\/a> says he doesnt see a brexit deal happening. What does that mean for a u. S. Trade deal with europe . By the way, weve got steve hilton on that. Hes coming up next. Yourethats why at aetna,sing what matters. Were committed to taking care of the whole you. With Medicare Advantage<\/a> plans that offer Health Coaching<\/a> and fitness memberships. Plus hospital, medical and Prescription Drug<\/a> coverage in one simple plan. With monthly plan premiums starting at 0. Aetna Medicare Advantage<\/a> plans call today to learn more and well send you a 10 visa reward card with no obligation to enroll. Or visit us online at aetnamedicare. Com tv stuart headlines coming to you from the House Intelligence Panel<\/a> chair, adam schiff. Hes holding a press conference, he held it just moments ago. He said the state department is withholding Text Messages<\/a> from u. S. Ambassador to the eu. Schiff also said the failure to allow ambassador sondland to appear is additional evidence of obstruction. Thats what happened this morning. President trump tweeted earlier about ambassador sondland, saying quote, i would love to send ambassador sondland a really good man and a Great American<\/a> to testify, but unfortunately, he would be testifying before a totally compromised kangaroo court, where republicans rights have been taken away and true facts are not allowed out for the public to see. Importantly, ambassador sondlands tweet which few report stated i believe you are incorrect about President Trump<\/a>s intentions. The president has been crystal clear, no quid pro quo of any kind. That says it all. Okay. If you can follow this, you are a better man than i am. Look at the big board. Low of the day, we are down 259 points now. Again, thats the best part of 1 . Prime minister Boris Johnson<\/a> tells Angela Merkel<\/a> of germany right now, a brexit deal is essentially impossible. You know we need a guy with a british accent to cover this. His name is steve hilton. Hes the host of the next revolution on the fox news channel. What about someone with a german accent . I can do a german accent. Stuart i think thats politically incorrect. You and i both know that well. The chinese will probably shut us down. Stuart okay. Take me through this. Whats going to happen with this brexit on october 31st . Right now, the situation is that the parliament, remember the members of parliament voted, theres a majority in parliament against brexit, even though the people voted for brexit. Thats the central dilemma in this whole situation. Parliament has to approve the process of leaving. They dont want it to happen at all. So what theyve done is pass a bill that ties the hands of Boris Johnson<\/a>, the Prime Minister<\/a>, and says that actually, unless you get a deal from the eu, we cant leave. The eu doesnt want to do a deal thats good for britain because thats an incentive for other countries to leave. Thats been the central problem all along, in pursuing a deal, because its not in the eus interest to give britain a good deal. Therefore, they have said you cant just leave without a deal which is what Boris Johnson<\/a> really wants to do which i have always said is the only real brexit. They said youve got to ask the eu for a delay, and that delay is to the current date which is october 31st. Boris johnson is saying were going to leave on that date, regardless of whether theres a deal. Hes now saying theres not going to be a deal. The question is what do you do. The real truth is, hes required by law to ask for a deal, but hes not stopped from also telling the eu by the way, i dont mean that, i dont want a deal. Thats the ridiculous situation theyre in. Stuart that is a ridiculous situation. Very hard to follow. End of the day, do the brits get out on october 31st . Yes. That is my view. Stuart they do. I think thats whats going to happen. Stuart not what should happen. You think thats whats going to happen . Yes. Very few people even in the uk believe that. Theres an assumption now in the uk that because of this law that parliament passed, theres going to be a delay. I dont think so. Everything that Boris Johnson<\/a> is saying time after time, day after day, we are leaving on october 31st, come what may. For him to not deliver on that is so would be so humiliating, i just think he knows that hes going to say to the eu look, we dont want this delay, they made me ask you but i dont mean it. Stuart this is really something, isnt it. Its insane. Stuart having talked about that, can we now talk about impeachment in the United States<\/a> . By the way, very similar situation, the establishment saying to the people when you voted, we didnt like your vote and we are going to overturn it. They are trying to overturn brexit, they are trying to overturn the 2016 election victory for donald trump. Its exactly the same kind of situation. Stuart youre saying the brits will get out on october 31st. That is my current assumption. Yes. Stuart so will we remove President Trump<\/a> from office in the United States<\/a> . No, i dont think so. Because i think that in the end, it will go as, you know, we have all been discussing, if the house votes to go forward with the impeachment process, theres a trial in the senate, you need 20 republican senators to cross the aisle to actually remove him. You may get a few. We are seeing a few republican senators not just mitt romney but a few others kind of getting a bit iffy about it. I think in the end youre not going to get the numbers. Therefore he stays in office, fights the next election and i think in the end because of the substance of what hes doing in terms of the economy particularly but also china, hes going to get reelected. Stuart yes. I see a parallel, a direct parallel. Britain, United States<\/a>. The elites versus the people. Exactly. Stuart i think thats exactly where it is at this moment. I hope the people win. Thats exactly right. As so often, we are on exactly the same page. Stuart unbelievable. We have the same accent, come from the same country and are on the same page in america. Good stuff. Mr. Hilton, thank you very much. See you on sunday night. You got it, sir. Thank you. Check the dow 30. That will be the lefthand side of your screen. 28 of the dow 30 down, two of them are up. The dow average itself is down 240 points. Not quite the low of the day. We are covering California Gas Prices<\/a> for you. Almost double the National Average<\/a>. Theyre paying, what, 4. 18 a gallon in the golden state. Why on earth are they paying so much more . Gas buddy coming up on that one. Limu emu doug hour 36 in the stakeout. As soon as the homeowners arrive, well inform them that Liberty Mutual<\/a> customizes home insurance, so theyll only pay for what they need. Your turn to keep watch, limu. Wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. Stuart not quite the low of the day. We are kind of stabilizing with a loss of about 250 points. Thats exactly where we are right now. Let me step aside for just one moment. Kind of bad news for nine to fivers. Your commute is getting longer. Susan, first off, what is now the average commute for americans . Susan 27 minutes in 2018. Thats a record high. But thats up two minutes from a year ago. If you add it up over a year, thats an additional 17 hours commuting and by the way, if you take it out over the average one year, thats, what is that, nine full calendar years youre on the road commuting. Stuart i hate susan nine full calendar days. Ashley how long is your commute . Stuart about ten minutes. Ashley in the limo . Stuart i come into work at 3 45 in the morning. Theres no traffic of any kind. I zip right in there. Ashley lands on top of the building . Stuart it does not land on top of the building. Can i move on, please . Look at gas prices. This is a comparison, lefthand side of the screen, the National Average<\/a> for regular, 2. 64. Righthand side of your screen, 4. 18 in california. 4. 18. Can you believe that . Come on in, Patrick Dehaan<\/a>, the gas buddy guy. First, before we look to the future, why is the price of gas so high in california . Well, stuart, theres been myriad refinery issues on the west coast and i think its ironic, we are talking about commutes in the morning. California is sitting in their commute right now burning that 4. 18 a gallon gas and the good news is those refinery kinks push prices up by 50 to 60 cents a gallon are now behind us. Californians will start to see some relief, of course its not going to be quick enough but prices could come back down by 50 to 60 cents a gallon by thanksgiving for anyone in california. Stuart i have just heard that they are trying to stop Oil Production<\/a> in california and i spend a lot of time in california. You are seeing Oil Production<\/a> by the side of the road. They are trying to stop that or at least cut it back. Ive also heard california is importing gasoline from saudi arabia. So its gotten that bad . Well, stuart, you look at it and the fact of the matter is i think you meant oil from saudi arabia and thats exactly whats happening. California is reliant on saudi oil more than anyone. Thats why the attacks on saudi arabia had a more profound impact on california. Then you look at the gasoline side of things, and california has made it tremendously difficult to produce gasoline in the golden state, and thats part of the reason why refineries in Southern California<\/a> and Northern California<\/a> cause the state average to go up 50 cents a gallon in less than two weeks time. Because no one else in the world requires this type of gasoline. Certainly its like requiring a refiner to make fillet mignon out of ground chuck. Stuart so your forecast is the price of gas goes down in california by thanksgiving. Gas buddy guy, Patrick Dehaan<\/a>, thanks for joining us. Appreciate it always. Thank you, sir. Thanks, stuart. Stuart the Sneaker Company<\/a> vans, vans, facing a hong kong boycott over a controversial shoe design. Tell me more. Susan they had an open competition to basically add in the most popular design by users, and wearers. This actually won, top of the lif list, this depicts the hong kong protests. Given the controversy of whats happening with the nba in china, they went ahead and pulled the design and those in hong kong were upset. You had boycott vans trending. Some were even throwing their shoes into the garbage can, putting them on fire. Stuart cant win, can you . Susan lighting them on fire. Ashley cant say anything. Stuart check that big board. Still down about 250 points. By the way, we have breaking news coming up from the International Monetary<\/a> fund. We will give it to you prompt at 10 00. It could move the markets. Stay tuned for that one. There was a time when liberals fought for free speech, probably a long time ago. Now radicals on the left are denying those whom they disagree with from speaking their minds and are using any means necessary. Free speech, that is the focus of my take coming up. What does the nba controversy in china mean for trade talks this week . We will get into it. The second hour of Varney Company<\/a> coming up for you next. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero. N whole new ways. N whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drug<\/a>s. 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Its time for investing to feel individual. Stuart precisely 10 00 eastern time. That means we break this news on the Global Economy<\/a>. Coming to us from the new head of the imf it is her first speech. Managing direct says the Global Economy<\/a> is quote a synchronized slowdown. Tell me more, please. Ashley this is not a very positive out look on Global Growth<\/a> bit imf. I will get to that. Global trade growth has come to a serious stand still. Risk that services and consumption could soon be affected. Fractures are spreading because of low and negative interest rates. Imf sees risktaking bin es haves to around the globe. If their Analysis Shows<\/a> a major downturn does happen, corporate debt at risk of default would rise to 19 trillion or 40 of major debt of eight great economies. This is not a good outlook. Imf said in spring of economic 2007, the overall economy is holding up well. What followed the worst financial crisis since the 1930s. I say that stuart i think you put a little context into it. Ashley i think so. Stuart lets bring in jim awad Clearstead Advisors<\/a> senior managing director. This is a negative for the market. Negative about the World Economy<\/a>. That seems the big game in town, the World Economy<\/a>. The big picture, whenever you go through periods like this if you buy u. S. Equities you endp making money. Stuart really . Take as strong stomach, jim. You have to have a view of a, multiyear view. Stuart yep. You want to buy them when there is short term trouble clouding investors ability to value stocks. If you buy the right stocks, look back two or three years later, you end up making money whether you go back to watergate, vietnam, the financial crisis or 87 flash crash, every time the headlines are terrible, you buy stocks of Good Companies<\/a> you make money. You get those opportunity right now. Have a worldwide slowdown. Aggravated by the trade issues. More aggravated by the tariffs, brexit, impeachment talk in washington. Looks like we could go through a rough patch. It will be interesting to watch what Companies Say<\/a> when they report Third Quarter<\/a> earnings and forwardlooking outlook. That could put a floor under the market, if businesses say it is not so bad that the headlines are worse than the reality. Stuart if they say that, looking forward we have a problem with the globe economy. Jim, i dont see how you suddenly stimulate the Global Economy<\/a>. How do you return to growth in europe and japan . Over there, it would have to be we return to growth and started to reaccelerate, pull them along. China also. The way you do that, if the u. S. And china come to some sort of accommodation. Right now it is going the other way. Stuart all hangs on some kind of accommodation between the United States<\/a> and china, the whole ball of wax. Abs. Absolutely. None terri policy is not that important. Whether the fed lower rates a quarter point is not that important. Trade uncertainty and that is major impact on Economic Activity<\/a> and stock prices. Stuart jim, thanks for joining us. We hit another new low from the day. The news from the imf came out, still a slowing Global Economy<\/a>. Ashley they say, by the way, i want to mention this the imf expects Slower Growth<\/a> in nearly 90 of the world. The lowest rate in almost 10 years. Stuart we hear it. The dow industrials are down close to 300 point as we speak. Ashley yeah. Stuart now down three hundred and now this. Almost impossible to debate policy in a public forum. Forget free an open debate. In the places where free speech is most vital, free speech is dead. Case in point the Prestigious Law School<\/a> at Georgetown University<\/a>. Not quite so prestigious. Kevin mcaleenan came to speak. He runs the Homeland Security<\/a> department. As soon as he was starting to speak he was shouted down by a group of protesters. When immigrants are under attack, stand up what we do, stand up and fight back. Over and over. Three times mcaleenan tried to speak, they wouldnt let him. He walked off the stage. Packed house of immigration attorneys, lawyers, law students were devied to hear his views. There is no freedom of speech for trump officials. They were run out of restaurants, denied access to any public forum. The left is denying free speech to their opponents in a long time. They can say what they like. No insult directed at mr. Trump is considered out of bounds. No support for mr. Trump is allowed at all. The left is free to shout down and disrupt but they dont have the intellect or maturity to debate. Let me close with what i think is a great example of the social media mob being faced down. Here is a case of free speech and Free Association<\/a> being supported. Got to love it. Ellen degeneres sat next to bush 43 at Football Game<\/a>. The photograph of two together provoked very Harsh Criticism<\/a> on twitter. Ellen degeneres responded perfectly. She said this, just because i dont agree with someone on everything didnt mean that im not going to be friends with them. Oh, we could use a lot more like that, couldnt we . We need College Administrators<\/a> to take action to insure free speech on campuses. That is where free speech is most challenged. That is where free speech is most in need of support. With me now is harlan hill. He is trump for president Advisory Board<\/a> member. Harlan, you heard what i just got to say. Youre smiling, i take it you agree with me, we need a Free Speech Movement<\/a> now absolutely. We agree on most things fortunately but there is definitely a war on free speech. They disinvite conservative speakers. Deplatform conservatives on social media. They boycott any brands that advertise on conservative shows. Try to cancel shows they disagree with. They sanction entire countries like israel. It is getting worst. Cato did a survey, over half of College Students<\/a> support outlawing hate speech. The problem with that we dont really have a proper definition of hate speech that these College Students<\/a> can agree in. They think anything trump says is hate speech. They have weaponized their feelings, they dont have any facts to back it up. Stuart i dont see any way around it. I made a public call, i want College Administrators<\/a> start doing something about this, to insure free speech. I dont see any of them doing it, maybe one or two isolated incidents. I think we have a huge problem here because anybody with an opinion that doesnt conform with the extreme left is shouted down. Just out of bounds. You cant do that im tired of it. Im tired of it too. The president actually addressed this earlier this year well start to w hole public or federal dollars for Research Grants<\/a> and other programs that colleges do not defend the right to spree speech. I think that is absolutely the right tact here. If youre not going to defend every students right to hear a diversity of ideas i dont think you should be able to take tax dollars from the federal government. Stuart is there a free speech issue with american executives who have business in china speaking their minds and being punished by china for it . That is not quite the same as the free speech denial at Georgetown University<\/a> but under the same umbrella the, it is free speech. It is in decline all around the world. It is. It is an alarming trend especially look to move with social media, how easy it is to suppress divergent opinions and deplatform people you disagree. Liberals are not just going after conservatives, theyre going after moderates too. This should give everyone pause. Even if youre just left of center, if youre a moderate democrat they try to suppress your views as well. This will only get worse. I think china is harbinger of what we could live under a different administration. Stuart ouch. Harlan hill, that hurts but were glad to have you back on the program. I hope im wrong. Stuart harlan, appreciate it always. Thank you very much. A lot of headlines on china and trade. Lets go through them. First of all china suspends broadcast of nba preseason games in that country following a tweet of the Houston Rockets<\/a> general manager daryl morey, which showed support for protesters in hong kong. That can certainly have impact on trade talks. Theyre going on right now at the deputy level as the white house and China Exchange<\/a> barbs over tech blacklists, taking chinese stocks out of u. S. Government Pension Funds<\/a>. Big story and weve got it for you. The General Motors<\/a> strike now in its fourth week. The president s top Economic Advisor<\/a> larry kudlow says the strike is beginning to drag on the economy. Should the feds step in . They could. Were on it. The second hour of Varney Company<\/a> just getting started. This is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness<\/a>. Put your employees on a path to Financial Wellness<\/a> with prudential. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero stuart still down 300 points on the dow industrials. That is a better than 1 drop. It is across the board drop. Fedex announced it will make returns easier for customers at walgreens locations, thousands of them nationwide. They will be rolling out that in november. Fedex though in a very down market, off a couple bucks at 139. Well, china has indeed stopped nba preseason broadcast in that country. The general manager of the Houston Rockets<\/a> came out in support of hong kong protesters. You cant do that. Lets talk nba commissioner adam silver he is weighing in on this. What is he saying. Susan they were sorry that they deeply offended many of our fans in china which is regrettable but now he is backtracking because the nba is trying to toe the very delicate balance of free speech and protecting their Largest International<\/a> market. Actually, adam silver i will defend my players. The nba will not put itself in position of regulating what players, team owners and employees about these issues. We heard about politicians. Ted cruz said they should be ashamed of themselves going against free speech, basically siding with china. Beto orourke says that the nba should be embarrassed because of the backtrack and kowtowing. Now looks like adam silver said well protect free speech of our players and employees. Stuart sounds like what he is saying. Not exactly straddling the fence but he will protect free speech of officials. He is going there in two weeks . Susan he is going there today. He is supposed to be there today. It was supposed to be a glitzy lineup of lebron james and lakers in town. And Houston Rockets<\/a>. Stuart is that still Going Forward<\/a> . Susan that is Going Forward<\/a> but not carried on cctv. They wont be able to watch it. Stuart i want to bring in economist peter morici. That is correct. Stuart he used to be in the trade talks. You tell us what effect does the nba china controversy have on trade talks going on this week . I think the president would like to find some way out of this mess because of the election coming up and the alleged impact of the tariffs on the economy and the economy slowing. However he is getting a lot of pressure not just from republicans but also from democrats on the hill. Chinese behavior this week towards the nba is probably hardened congressional attitudes towards china. The chinese are doing their very best to turn the liberal politicians and moderates in the United States<\/a> that oppose donald trump into their enemy so to speak. Into their adversary would be a better word. This is really very foolish. President xi is remarkably tone deaf when it comes to western attitudes or even the attitudes in hong kong. This illustrates it. This is very characteristic of authoritarian governments. For example the fascist governments in the 30s. Stuart he hasnt any choice, peter. Xi xinping cant retreat on hong kong. They want a free vote. No communist can allow a free vote. He cant retreat on the uyghurs in western china. They may pose a Security Threat<\/a> to the entire country. I have two messages for him. Look what happened to king george and his colonies and king james and his head. Stuart well, that is a little extreme . Really . Really. Stuart xi xinping is doing best to defend his government and his position. Im not speaking for him by any means. That government is a creature of his creation. He decided to make himself president for life, so forth, not anybody else. Lets not apologize for his conduct. He is a dictator and he is bullying this isnt only one. Stuart youre dead right, he is bullying american executivess. Bullying American Companies<\/a>, interfering in our freedom of speech. In that context how on earth do you do any kind of trade deal with the man . Thats the whole point. It is time to disengage with china. Time to tell the nba and marriott, who for example, fired a low level employee for saying something on an issue about taiwan where he didnt know any better. Stuart let me press this, peter. You disengage with china and World Economy<\/a> is not going to speed up. It is not going to start growing. It will take another leg down and our stock market will off big time, are you prepared for that . Yes. I rather take the shore term pain than sacrifice my liberty about. Some things are more important than the purse. America has got to get it through its head it cant listen to the likes of joe biden who says china is not really a problem because it might conveniently harvest him some votes. One of the problems well have here, like with political correctness, gender bias, gay rights, things like this, youre up against american universities. You want to talk about a corrupt and compromised enterprise . Look how Many American<\/a> universities have business interests in china. Stuart a lot. Thats true. While they will stand up when there is direct influence, trying to buy out an institute or something, but this is this subtle situation. How Many University<\/a> president s have spoken up this week . Have you heard anything from the university of maryland or harvard or ucla about this . Stuart you wont either. But if there is Something Like<\/a> black lives matter, theyre telling student to demonstrate in the streets. I think my president would be rather alarmed if students were demonstrating outside of the Chinese Embassy<\/a> this week because of very extensive ties my university always had into china. The buck matters so much. My Business School<\/a> is that way. Stuart i have to leave it there. Peter, forceful opinion, wellexpressed. We appreciate you being here. Take care. Stuart peter morici. How about this one for you, maker of a very Popular Video<\/a>game, the fortnite, it is facing a lawsuit from parents who claim that game is ad dick of it of cocaine. That the game developer made fortnite as addictive as possible. Do they have a case . Well discuss. A lot of black lash over the president s decision to pull troops out of syria. Later this hour were asking a pentagon insider if the pentagon approves of that move. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. I had no idea that my grandfatherfe changing moment for me. Was a federal judge in guatemala. He was an advocate for the people. A voice for the voiceless. Bring your Family History<\/a> to life like never before. Get started for free at ancestry. Com stuart if i say we come back a bit, that would being accurate. We were down over 300. The selloff is across a broad range of industries and stocks. Southwest, the pilots are suing boeing. They say the company misled them about the 737 max jet and they lost income. Boeing is down six bucks at 369. Southwest down just a fraction. Epic games is the maker of fortnite and epic games is being sued because, they didnt warn parents that the game is quote as addictive as cocaine. Bret larson with us, fox News Headlines<\/a> 24 7 anchor. First of all who else is saying that videogames are addictive . Interesting the World Health Organization<\/a> says videogames are addictive. Its a god move because it allowed countries to say we need to come up with ways to the treat this addiction. As being addictive as cocaine, can you imagine seeing that on a product package this game may be addictive as cocaine. Stuart this makes no sense whatsoever. I like coffee. I drink a ton of coffee every single morning. Am i addicted . Yes. Do i have the right to sue coffeemakers that i am addicted. They dont have a sign, use of our products may result in addiction. It makes me feel better. Stuart where does it leave Parental Authority<\/a> and parental responsibility. Those are very good questions. This stems from parents who say their teenagers are addicted to playing this game. They go so far saying epic games brought in the use of psychologists to make the games as addictive as possible. Weve seen this before in videogames. I can remember decade ago people were losing their jobs because they were addicted to playing these emersive reality games. It makes sense when you think about it. You get to go into another world. Stuart but you did it. Exactly. You have to still go out to do your job. You have to make money, pay the bills to keep the electricity on. It is a interesting twist. Videogames often get a bad rap. Are they addictived, maybe i like playing super mario game but i doesnt do it for hours against any other responsibility i have. Stuart make the choice even though you may be partially addicted you make a personal choice. May look forward when i come home but i hope the videogame maker doesnt settle. Stuart this is my opinion of the lawyers making money. This is my opinion. It is highway robbery. Thank you very much indeed. I will calm down. I will stop slapping the set. Wait for it. I have more. The Supreme Court<\/a> has cleared the way for people to sue any website thats not acceptable to the visionimpaired, accessible, accessible to the vision impaired. Follow as court ruling in favor of a blind man who sued Dominos Pizza<\/a> over the website access. We have full details on that coming up for you. Britains Boris Johnson<\/a> said a brexit deal could be essentially impossible. Where does that leave the brits on the october 31st deadline for getting out . What a show we have got for you. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. 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Cancer Treatment Centers<\/a> of america. Appointments available now. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. so why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Lucy in the sky with diamonds stuart its a favorite. Yes. We wont get into the origins but it is a good one. Just imagine, this is 50 years old, and it still sounds new, fresh, different. Good heavens. You dont know what youre missing. Susan yeah. It is classic. Ashley looking at me when you say that . Stuart staying on the brits. Lets get serious now because this is really serious. Prime minister johnson, boris to his country, he told Germanys Angela Merkel<\/a> a brexit deal is essentially impossible. Have at it, ash. Ashley where do you begin with this story. Bottom line mrs. Merkel spoke to Boris Johnson<\/a> by phone, you know what, you will not get a deal as Northern Ireland<\/a> continues to be the part of eu customs system. End of conversation, kaput, nein done. After phone call, number 10 says completely unlikely everything will be agreed upon if that is the eus stance. The deadline is october 31st. By Law Parliament<\/a> passed legislation. He has to ask for extension, Boris Johnson<\/a> at the end of this month. And Boris Johnson<\/a> said were leaving on august 31st, october 31st but i will comply with that law which makes no sense. Steve hilton said, boris could provide two letters, please give us an extension and please ignore what i asked you. Stuart he could do that . Ashley he could do that. He will run out of the clock. Britain will fall out midnight october 31st, maybe. Stuart same over there, as it is over here, elite versus the people. Ashley antiestablishment versus elites. Stuart thats is what it is. Ashley brexit antiestablishment. Donald trump was antiestablishment. They tried to get donald trump out and theyre trying to overturn brexit. Stuart on that note, my next guest has a book out on your screens. I will read this in full, witchhunt the story of the greatest mass delusion in american political history. There is a title. I kind of like that one. Gregg jarrett, he wrote it, he is with us right now. Congratulations. Thank you very much. Its is out in bookstores. Stuart are you giving that . Giving you that as a personal signed copy. Stuart im lost in this impeachment. That is not unusual. Stuart that is very true. I will put that aside one second. I want to talk to but the barrdurham report i know is coming at some point soon i hope about what really went on in the 2016 election. Youve been following this as closely as anybody on this planet. What are we going to see . What do you think well see when hillary is called to task so to speak . Barr and durham are not waiting for the inspector generals report, although i think many of their findings will mirror exactly what is in horowitzs report. But i think they will find rampant acts of corruption and lawlessness on a group of powerful, unelected government officials who abused their power to go after donald trump, to frame him for something he did not do. How did this group of officials convince tens of millions of americans that trump was a traitor without a shred of evidence . The only way they could have done it was by breaking the law, lying and spying, colluding themselves in order to frame trump. Stuart do you think that this impeachment move that we have seen it, has started already, is it going to remove our president from the oval office . No, not a chance. Stuart not a chance. But will he be impeached . That is will the house vote to impeach him . They have the power to do it. They have the majority, but this is the wisdom of the framers. They feared a situation like this, an opposing party that for purely political reasons would try to remove a president. So they made it exceedingly difficult. 2 3 majority in the United States<\/a> senate. The conversation between trump and zelensky is not a crime. It is not an impeachable offense. Stuart okay. So democrats have embraced this amore fist concept called abuse of power which is found nowhere in the u. S. Constitution. Its a shifting sand of interpretation that is highly subjective. This is exactly what the framers feared. Stuart i understand that senator Lindsey Graham<\/a> has just offered Rudolph Giuliani<\/a> the opportunity to testify. Im just getting this in my ear, on corruption in the ukraine. That is what Lindsey Graham<\/a> wants him to testify about. He is the head of the Judiciary Committee<\/a> in the senate as you know. Any comment on this development . Is this important . He should. I write about it in my book about how the Democratic National<\/a> committee hired a subcontractor to contact ukraine, to dig dirt on donald trump, for the benefit of Hillary Clinton<\/a> in the 2016 election. There is fairly persuasive, i would say, overwhelming evidence that clinton democrat ukrainian collusion took place to meddle in the election, to unduly influence it and i think Lindsey Graham<\/a> is the right person to get to the bottom of it. And giuliani should provide the evidence that he has. I have talked to giuliani about it. I interviewed him for the book and his evidence is persuasive. Stuart i see 500 pages in this book of yours, witchhunt. Dont let 1500 footnotes intimidate you. Stuart what im hoping when i read it all my confusion what went on the last three or four years will be resolved. Do you promise that . I think so. Astonishing a ray of theoretically smart people convinced themselves and millions of americans that donald trump was a traitor based on no evidence. Stuart okay. Gregg jarrett. Thank you very much, sir. My pleasure. Stuart i will read it. I hope you will. Stuart i will. Come back later and tell you what i did. Thanks. Stuart new low of the day, sorry to do this to you, got to get back to the market. That is a new low. Were down 310 points. Now this, the Supreme Court<\/a> ruled in favor of a blind man, Supreme Court<\/a> rulings are basically in favor of a blind man who is suing dominoes, the pizza people over their website accessibility. Tell me all about it, lauren. This is a landmark decision. This is bad for many businesses. Basically a blind man said i tried to go on your app or website and i couldnt because it is not friendly for people with disabilities. Supreme court said, no, no were not hearing your appeal. You must comply with the ada, the americans with disabilities act written 1990. Putting a ramp around your office building. There was no internet here. Dominos is saying update the law. Let us know the rules of the game were playing by, what you have is dozens of companies being sued because their websites and their apps are not friendly to those with disabilities. Sometimes they pay between 10,000 and 20,000 to make that lawsuit go away. So allin, were talking tens of millions of dollars dealing with this. They can also retrofit their websites but that also comes with a cost. Dominoes is asking for a level playing field, what are the rules of the game . Stuart the bottom line, thousands of businesses will be sued, are being sued, and enourmous cost. Last year 2258 businesses faced such lawsuits. That was up 177 from the year before. Those are the numbers. Stuart it will just go up from here. I have personal experience. It goes up from here. Lauren, thank you very much indeed. Next were talking to a pentagon insider who says the Trump Administration<\/a> to pull troops from syria would have been a surprise to the military. Well ask him does the pentagon approve of this move . New study shows california leaving the state in droves. Theyre fleeing taxes and going to states with zero income tax. We have that story in the 11 00 hour this morning. Im off to college. Im worried about my parents retirement. Dont worry. Voya helps them to and through retirement. Dealing with todays expenses. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. Thats for sure. Hange and when those changes might help more people, especially those in retirement, i think its worth talking about so, aag is introducing a new jumbo reverse Mortgage Loan<\/a> so you can now access as much as 4 Million Dollars<\/a> in cash, tax free, from your homes equity. 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Netflix came in at 35 , so number two overall. Hulu was at 7 , and amazon at 3 . Guess how many teenagers watch traditional cable tv . Stuart dont tell me. Susan number is a bit shocking. Came in number three for the entire survey. Only 12 of teenagers watch traditional cable. That is down from last year. But, if you want to think of a reason to short netflix, which is already lower for the year after being up 40 , this might be another reason given they had subscriber losses first time in a decade in their report card. Stuart my own children and grandchildren. Dont turn the tv set on. Turn on your device to watch what you want to own. Susan stock trade, google owned alphabet might be something to look at. Stuart thank you, susan. The u. S. Is withdrawing troops from syria. President trump tweeted about that this morning. He said the u. S. In no way abandoned the kurds in a tweet this morning. Our next guest is a pentagon insider. John ganz is with us. First of all does the pentagon approve of this withdrawal . Well, i think what we found is that aside from the pentagons geopolitical and strategic concerns with the president s decisions there is a lot of questions how it was made, right . The pentagon values partners and processes above almost anything else and the kurds have probably been one of americas best partners in the middle east, not only willing to fight and willing to die. They are willing to process was in place an upended by president s tweet. Stuart does the pentagon approve of this . Come on this is pretty straightforward question. Are they in it or against it . I think the pentagon is pretty clear from reports they were opposed to withdrawing troops from northern syria. Stuart okay. I think there is a quid pro quo involved here. Well say to the turks, you can go into syria, you can oppose the kurds but in return you have to look after, you have to keep in your country 12,000 defeated isis fighters and 58,000 family members of these isis fighters. That seems to be the quid pro quo. What does the pentagon think about that . Well i think the pentagons frustration they have been working on a process with turkey and their counterparts, whether the military or ministry of defense that would work to establish and secure that security and confusion over the tweet and to a degree of the change in policy over this weekend made it harder to make sure those deals are forced because relationships are burned. People are sort of exposed for being sort of not in line with the president and to a degree trust has broken down among the people who will be actually operating this policy. Stuart im reading between the lines, sounds like we have beef between president and pentagon over turkey going into syria. Shall we leave it there . I think it is probably true. I think this is a problem he will have to sort of manage in the weeks ahead. Stuart john, thanks for joining us. We appreciate it. Thank you very much. Lets get to the General Motors<\/a> strike which as you know is now in its fourth week. The president s top Economic Advisor<\/a> larry kudlow he warns that the strike could begin to drag on the economy. Bearing that in mind, is it time the feds stepped in . We will ask michigan congressman, republican bill huizenga. Well ask him after this. Fact is, every Insurance Company<\/a> hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . Were back down to a 300 point loss for the dow. 1. 1 , 26,100 is where we are. Too take a look at dominoes. They have turned around. Why are they up now following an Adverse Court Ruling<\/a> . Why are they up . There is an answer for that one. They Just Announced<\/a> a billion dollar share buyback. That works. Dominoes turning around. See that chart . That is an intraday chart. It was down. Share buyback, straight up, dominos on the upside. Now this, samsung warns investors its profit will likely dip more than 50 in the Third Quarter<\/a>. Tell me why. Susan compared to last year, which was a record year, very hard to compete. Were looking around for the chip market. Samsung is the largest memory chipmaker along with smartphones as well. Yes, you know, huawei falling back, means increased market share in europe as well. There is a lot of positives for a turnaround in samsung. Stuart i like the way you say chip. Susan chip instead of samsung . Stuart thank you, susan, very much indeed. Gm strike in the fourth week. Talks resumed between the two after the union says the negotiations took a turn for the worse. They are back together. Congressman bill huizenga, republican from michigan is by itself. Larry kudlow said, that gm strange is beginning to hurt the overall economy, so you think it is time the fed stepped in, coolingoff period . I dont think that should be the case. This is a private sector discussion and debate that needs to happen. We are cognizant of the effects of this. There is definitely some headwinds. Appears everybody is negotiating in good faith. Were talking with one of our suppliers for gm, one of our big industries. I have tried to reach out to the of the aw local. I have a plant in my district that has 800 union employees, line workers and another 206 i think it is salaried. There is real effect the happening in michigan. Stuart what is the Sticking Point<\/a> here . This is the fourth week for a gm strike, longest since 1970 for heavens sake, might hurt the economy, what is the biggest Sticking Point<\/a> . What were hearing how you deal with temporary workers and their status and sort of where that pay is going to go. Stuart that is one issue. Yeah. Stuart but 20 of all the gm vehicles sold in the United States<\/a>, 20 of them, are actually made in mexico. Yeah. Stuart that is the problem, isnt it . Because the uaw doesnt like that. That is one of the reasons why frankly, we talked about this on the show, we need to pass usmca. It increases the u. S. Content of those north American Made<\/a> cars but we have to be very cognizant of the effects of this. I still think people working in good faith should continue to move forward. Our suppliers are kind of mixed. Some are really afraid as they have slowed down and had to lay people off voluntarily. They may not be able to keep doing that voluntarily. They will have to do layoffs. At which point they could go into other industries. Stuart get the feds to step in, come on, lads. When is Stuart Varney<\/a> for a federal government interventionist. Stuart that is a good one. We need to be very careful about the federal government coming in and big footing this. No doubt if they have come to an impasse they can move it forward, help negotiations clarify but i dont think were at that point yet. Stuart it is a very serious point. I understand General Motors<\/a> will delay the launch of the new 2020 corvette. This is serious. That is serious. That is a sweet car, it needs to go forward. It is about workers behind it. Whether it is suppliers, a lot of those parts come out of my district. Stuart i hit a nerve with this. Tell me more about the delay. Ashley this is a bowling green, kentucky plant, i used to go to all the time, when i was up in nashville. It was up on 65. Theyre trying to get caught up with production. It will be delayed, come out in a coupe or convertible, 67,500. It is med engine redesign. People love this thing t could be pushed back. It is too early to speculate on construction timing but its a concern. Stuart manufacturing, gm workers, made in michigan going to vote for reelection of President Trump<\/a> . That is a good question. I think so. Usmca is big part of that. Stuart if we get usmca . That and tariffs. Stuart that is one of the reasons Speaker Pelosi<\/a> will delay. I think absolutely that is the case. Stuart we have a fight on our hands. Bill huizenga thanks for joining us. Appreciate it. What have we got now. Never seen anything like this, big companies, American Companies<\/a> threatened directly by china, started with one tweet from a nba executive. Give you my take on that at top of coming hour. Were talking to ceo of a company which tested a whole bunch of vape products. Their findings, the problem with vaping is from the black market products containing Hydrogen Cyanide<\/a> and black market vaping devices. They are the problem. Here is experience for you. Crushing cars with tanks. Talk about a stress reliever. I could use it myself. Third hour of varney rolls on. Ashley down sixth avenue. You. Alexa, add xylophone to band shopping list. alexa okay. We dont need a band shopping list. Alexa and i disagree. Alexa, add positive attitude to band shopping list. alexa added positive attitude to band shopping list. Thats for you. You need it. Join nationwide now and get a free amazon echo auto. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. Its soft. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, and the door ensures a watertight seal, so you never have to worry about leaks. Kohlers walkin bath was designed with convenient handrails for added stability and safety. The wide, ergonomic seat is tilted back for comfort and stability. It has a channel so water wont pool on it. And it positions you perfectly by the controls. While the heated seat soothes your back, neck and shoulders, warming up your body before, during and after the bath. Kohler is an expert in bathing, so you can count on a deep soaking experience. Honey, are you seeing this . The kohler walkin bath comes with powerful, fully adjustable hydrotherapy jets and our exclusive bubblemassage. Oh yeah, thats the stuff. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. Would you mind passing my book there. Once again, thats. And financing is available for qualified purchasers. Stuart what happened to the nba in china will affect the free speech of any american who does business in china. After an expression of support for the hong kong protesters by a basketball official, beijing took a series of measures to lock out the nba from their lucrative business in china. The message is clear. If you want to make money here, keep your mouth shut over there. This is ominous. China has imposed a political test. They are circling the wagons as they desperately defend their crackdown on hong kong and their imprisonment of Muslim Uighurs<\/a> in western china. They are eager to punish any business which speaks out. Even the slightest hint of support for hong kong protesters gets a very harsh response. A professional video game player employed by Activision Blizzard<\/a> voiced his support. He was suspended. They are censoring the free speech of those who work for American Companies<\/a>. What are u. S. Companies supposed to do if any of their employees makes a comment that beijing doesnt like . Its chilling, isnt it . Suddenly, big name American Companies<\/a> have been forced into the spotlight. Disney has a huge operation over there. So does General Motors<\/a>. So does apple. Can their executives speak freely . Hollywood movies are big, they play big in china. Will actors be allowed to speak freely . They risk seeing their movies banned. Will there be any more red carpet premieres in shanghai . Not if the stars say anything beijing doesnt like. I cannot remember a situation like this. When have we ever seen a big slice of American Business<\/a> suddenly threatened by a foreign power . We are seeing it now. But what we are also seeing is china, the bully. China, the totalitarian state. Hard to imagine a trade deal with a society that threatens our businesses and our free speech, and which is very close to a military crackdown on those brave hong kong protesters. The third hour of Varney Company<\/a> is about to begin. Stuart theres a lot to go at here. I want to bring in jeffrey cleveland, chief economist at payden rygel. We are down 240 points. Is this all about the china confrontation . Stuart, live and uncensored from los angeles, i think it is a key issue. We have seen politics creep into everything. Last week the manufacturing and the services pmi certainly were affected by the state of global politics, and again, this morning, we saw the Small Business<\/a> survey, keep in mind Small Business<\/a>, those businesses with under, say, 50 employees, make up about 25 or more of total employment in the u. S. , and their optimism went down a little bit. We are still at very good levels, the Small Business<\/a> optimism survey but coming off of some of the recent highs. Stuart okay. I really think this market decline is all about the confrontation with china. I want to speak to the political side of it, the free speech side of it. Just imagine for one moment that any employee of an American Company<\/a> that is doing business in china, supposing that employee says something positive about the protesters in hong kong. Will china now demand that they fire that employee, suspend that employee, and get out of china . Is that what were looking at here . Well, i cant speak to, you know, the company policy, stuart, but i do think the issue here is the rise of china in terms of global output. If you look at the last four or five years, nearly onethird of global gdp comes from china, chinese output. That means that the chinese market, the chinese consumer, is a very attractive destination for not just u. S. Corporations, but multinationals, and you know, when they see dollar signs, its very difficult for those companies to resist maybe tempering their comments. Stuart what do i do as a shareholder . If i own stock in an American Company<\/a> that does business in china, and one of the employees says something bad and the company is kicked out of china, im a shareholder, i suffer. Who do i blame . Do i blame the american executive or the American Worker<\/a> for saying something . Door i blame china for clamping down on the freedom of speech of americans . Its an interesting question, isnt it . We are going to face it. We are, and you know, the bigger question for shareholders is does any of this cause a downturn because when you are a stock investor, what matters most is whether or not we have a recession in the very near term. If we dont have a recession in the very near term, we can still expect, i think, stocks to do okay. So even the level that weve seen in terms of Political Uncertainty<\/a> feeding through into ism and feeding through into the Small Business<\/a> survey, nothing yet rises to the level of causing an economic downturn. I think thats the most important nearterm question for shareholders. I cant solve all the Global Political<\/a> disputes that are ongoing. Stuart but thats your takeaway. Well take it. Jeffrey, good stuff. Thanks for joining us. Always appreciate it. Now, on the same vein, ive got this story for you. The white house may limit chinese stocks being included in u. S. Government Pension Funds<\/a>. Now, deirdre, let me see if ive got this right. Supposing you have alibaba, a Chinese Company<\/a>, would i not be allowed to have alibaba in a governmentrun pension plan . Deirdre that is what is up for discussion. It has not yet been decided. But your point is well taken in that this is a huge Chinese Company<\/a> so listen, all of these Pension Funds<\/a> including, i want to underline the connection here, these are the Pension Funds<\/a> that pay out our soldiers when they retire and our government employees, so thats the extra layer of politics involved in this. So for example, theres an msci all world index but that captures tons of countries around the world, specifically emerging markets, believe it or not, china is still considered one. So you would have some of these big chinese tech shares. More interestingly, you would have some of the Chinese Companies<\/a> that we feel are stealing our i. P. So for example, artificial intelligence, companies that are producing those kind of products or services, so the u. S. Government according to a few stories are considering limiting and theres one thats actually, the decision is going to come up pretty quickly and it would involve about 50 billion of investing into funds that would benefit these Chinese Companies<\/a>. Stuart really what we are talking about is capital flows between china and the United States<\/a>. And the United States<\/a> and china. Deirdre we also heard from the Trump Administration<\/a> theyre not going to do outright but this seems to be taken as a side issue but yes, brass tacks, thats it. From what i understand, this is supposed to be kept separate from the trade talks that are happening in d. C. I just dont see how it doesnt come up. But in theory, its supposed to be a separate conversation. Stuart how do you keep it separate. Very good question. Theres loads of negatives for this market. Right now, we are down 250 points on the dow industrials. Most of the stocks which we will show you today are indeed on the downside. Now, weve got another, i will call this another negative. Weve got news from the imf, International Monetary<\/a> fund, okay. Just at the top of the 10 00 hour, 66 minutes ago, they lowered their forecast for Global Growth<\/a>. Have i got that right . Ashley yeah, about Slower Growth<\/a> expected in nearly 90 of the world, falling to the growth, that is, falling to its lowest rate in about a decade. It makes pretty grim reading. They say look, global trade growth has come to a near standstill. There is a serious risk of services and consumption could soon be affected and they say the fractures are spreading. Its very much doom and gloom. And they just say look, even if the growth picks up next year, according to the imf, the current rift could lead to changes that last a generation. Stuart only one thing might, might be a bright spot in the next two weeks. That is the Earnings Report<\/a>, the profit reports, which American Companies<\/a> will come out with. Deirdre for the Third Quarter<\/a> earnings, they are supposed to be down, if you measure quarter on quarter, a few Percentage Points<\/a> but the flipside of that is actually sales are supposed to gain about 3. 5 , 4 , so i would personally rather take stronger sales than earnings because it means the companies arent just kind of crunching this productivity. I would rather see them stronger competitively. Stuart im looking for bright spots. Deirdre sales. Third quarter sales. Stuart thank you very much indeed. All right. Headline in the wall street journal opinion section today. Biden in search of an argument. James freeman wrote it. He was on the show earlier. He says if biden had an excuse, he would have given it for what happened in the ukraine. But he doesnt. So is the president getting threatened with impeachment while joe biden seemingly gets off easy . Kelly sadler joins us later. She says america should be paying more attention to the democrats. Ellen degeneres spotted with george w. Bush at a Football Game<\/a> and was ripped on twitter for it. She didnt back down. No, she slammed her critics. You want to hear what she had to say. I thoroughly applaud it. Which ties right in with my premise for today. Free speech is dead and we need a new movement. We are starting it right here as the third hour of varney rolls on. The lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. The end might not be as happy as ayou think. End. After all, 4 out of 5 people who have a stroke, their first symptom is a stroke but the good news is you can rewrite your ending and get screened for stroke and cardiovascular disease. Life line screening is the easy and affordable way to make you aware of undetected Health Problems<\/a> before they hurt you. 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Deirdre they have a contest every year and in this contest, somebody made the hong kong flower. We will see it here. It might be on the other side. What youre looking at, on the side you have this crowd of protesters, they have gas masks, they have goggles, theres even an umbrella from the umbrella revolution in 2014, and this is all part of the skateboard rebellious kind of custom culture, but they got in trouble so they actually pulled this person, the designer, who is a california resident, they actually pulled this mission off its website. Now you have a complete backlash which is boycott vans and the company said we took off a few submissions, that wasnt the only one. Okay, come on. Now they are really facing a pretty big backlash from their Consumer Base<\/a> which is known for this independent thought, rebellious kind of skate culture which is supposed to in theory think for themselves. Stuart you put off a project because you design a shoe which might have something to do with favorable hong kong. God forbid. Im going to stay on free speech because we are all fired up about that. Seems like free speech is under attack at every turn. In hong kong protests, the nba, and china, cracking down on what our executives can say. I think we need a new Free Speech Movement<\/a>, a reboot of the Free Speech Movement<\/a> back in berkeley in 1960s. Lawrence jones, fox news contributor, is with us now. I cant imagine that you are going to object to my idea of give me a Free Speech Movement<\/a>. I warned conservatives awhile back, campus reform covers it every single day. The craziness thats happening on college campuses, the attacking of conservative students. If you have a different point of view, if you are libertarian, you are being attacked on college campuses. The Mainstream Media<\/a> wont cover it at all. Berkeley was on fire, on fire in the Mainstream Media<\/a> wouldnt cover it. Stuart did you see what happened . I think it was monday night or monday during the day, im not quite sure which, the acting Homeland Security<\/a> director was shouted down at Georgetown University<\/a>. He wanted to make a speech about immigration. Thats his area. He was shouted down, could not speak. This is a member of the trump cabinet. Its because the professors and administration allow anarchy. Why dont you get those students out of there . Stuart because they are afraid. They are afraid of the students. Whats going to happen right now, we will create a generation of students that believe you can go in the real world and do this. If you do that in the real world, try to shout people down, you will get arrested. Bottom line. Freedom of speech has protections as well. If you incite violence thats breaking the law. If you threaten people, thats breaking the law. What they were doing, they are threatening the Homeland Security<\/a> secretary there with the constant shouts and constant shouts. They could have been escorted out for disruption of the classroom but they were never escorted out. Thats the problem today that we have on college campuses. Stuart let me take you to the other side of the coin. This is something which i wildly approve of. Ellen degeneres, an angry twitter mob set their sights on her all because she was seen at a Football Game<\/a> with george w. Bush. They called her a hypocrite and a whole lot more. Heres how she responded to that. Roll tape. Im friends with george bush. In fact, im friends with a lot of people who dont share the same beliefs that i have. We are all different and i think that we have forgotten that thats okay that were all different but just because i dont agree with someone on everything doesnt mean that im not going to be friends with them. Stuart just because i dont agree with someone on everything doesnt mean that im not going to be friends with them. Thats perfect. Thats exactly what she should have said. As one that has liberal friends, the majority of my friends are liberal, i disagree with half the nonsense that comes out of their mouth, i understand what shes saying but i have to push back. I love her, i love the comedy, but ellen was once part of the mob as well. She has targeted other actors that didnt have that had different opinions. She went after the pastor because she had problems. Ellen, on the other hand, when its kevin hart, when its george w. Bush and she likes them, then she can be forgiving to them. So as i always say, if you pour gasoline into the mob and the fire raises up and burns you as well, dont be surprised. Im glad ellen has a change of opinion but i wish she was more consistent when it comes to free speech. It cant be just protecting the people that you like or when it comes after you. It has to be consistent free speech and ellen has a history of going after people when they disagree with her. Stuart whats that expression, i will fight to the death to defend your right to free speech. Even if i disagree with you. Stuart even if i disagree with you. Thats the value of america. I dont want to turn into these other countries and im afraid, the culture that were establishing in america right now is trying to make us like other countries. We do have freedom of speech. We do have the right to have different, opposing views and guess what . Just because we disagree, stuart, doesnt make me a hateful person. Maybe i have a different philosophy than you. Stuart well said. Well said. Thanks, brother. Stuart were not done. Dont think you are going to get off light. You ever heard of mario sabio . No. Never heard of him. Stuart im astonished. Im 26. Stuart hes deceased. He ran and created the Free Speech Movement<\/a> in berkeley oh, yeah, yeah, yeah. I know who he is. N i know exactly who he is. Stuart he said give me free speech. You should give a speech at berkeley. I would like to see what would happen if Stuart Varney<\/a> gave a procapitalism speech on berkeley. Stuart i would need some protection. Are you available . Im there. Stuart as always. They wont let me bring my guns. Stuart thank you, lawrence. Ive got breaking news from the white house. Acting Border Protection<\/a> commissioner mark morgan, giving a press conference on the border wall. Hes saying that 450 miles of wall will be built by 2020. I suspect that is new wall, not a replacement of old decrepit wall. Thats what hes saying. Saying it right now. Something completely different. Why not. London to sydney, australia in four hours. How about that. The uk, the brits, their space agencys working on it. Theyve got a hypersonic space plane on your screens now. They are hoping it will be operational by 2030. Only ten years to wait. First, are you stressed out . Yes. Would it make you feel better to ride a tank and crush cars . Yes. One company is offering that. We will take you there. I will tell you how much it costs as well. Well be right back. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. stuart all right, sports fans, we do have a Little Something<\/a> to get you through a monday and a tuesday. As seinfeld said, tuesdays have no feel. Remember that . Gary gastelu is in a tank. For 800, he is going to drive that tank over a bunch of cars. Get all the frustration out. Gary, im giving it to you. The next 90 seconds are yours. Go. I know you love your pickup truck but everybody drives trucks these days. [ inaudible ] i cant even tell you how much fun that is. Shift this into reverse right now. This is hard to drive, its a little complicated. [ inaudible ] straighten this out. This is an oldsmobile 88 im trying to get rid of here. Here we go. Right on top. What do you think i should do . We will give it a little of this, a little of that. Stuart watch when textricating the tank, stopped on top of the car it crushed. For 800 that was a remarkably short ride but probably very satisfactoryi satisfying, i would suspect. We will come back to you if you get a tow. If thats not serious, this is. Apple, the stock, has been on a tear recently, very close to new highs. We have people on this program saying its going to hit 260 a share. Okay. Down a bit today but theyre looking for it to go higher. Up next, apple watcher dan ives. He will make his prediction for apples price. We are also going to ask him about tesla. He calls their next profit report a fork in the road. By the way, hes not bullish on that stock. Meanwhile, the overall markets continue the selloff. We are still down close to 300 points. Thats better than a 1 drop. Well be back. Nah. Not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. When youre looking for answers, its good to have help. Because the right information, at the right time, may make all the difference. At humana, we know thats especially true when youre looking for a Medicare Supplement<\/a> insurance plan. Thats why were offering seven things every Medicare Supplement<\/a> should have. Its yours free just for calling the number on your screen. And when you call, a knowledgeable licensed agentproducer can answer any questions you have, and help you choose the plan thats right for you. The call is free, and theres no obligation. You see, medicare covers only about 80 percent of your part b medical expenses. The rest is up to you. Thats why so many people purchase Medicare Supplement<\/a> insurance plans, like those offered by humana. Theyre designed to help you save money and pay some of the costs medicare doesnt. 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And when you call, a knowledgeable licensed agentproducer can answer any questions you have, and help you chose the plan thats right for you. The call is free and theres no obligation. You know medicare wont cover all your medical costs, so call now and see why a Medicare Supplement<\/a> plan from a company like humana, just might be the answer. Stuart its been like this for much of the last hour, minus 300 points on the dow industrials. Thats where we are now, down minus 292. Staying on the market, our next guest says this market has been supported by three possible bright spots. Number one, an earnings rebound. Number two, the fed cuts rates and rescues us. Number three, a china trade deal. Dan suzuki is the man with those three hopes in mind and hes on the show now. Dan, welcome back. Thanks for having me. Stuart of those three, i can only see one that i would guarantee and that is the Federal Reserve<\/a> lowering rates. Im not so sure that rescues the market. Absolutely. I think thats right. I think its a little bit of false hope, you know, hope is not a really good strategy here to rest your laurels on. I think that when you look at all three, even when you talk about the fed, you think everybody thinks they are going to cut. They probably will. When you look historically, thats been more of a bearish sign than a bullish sign. When the fed starts cutting rates, you generally want to be cautious. The last time that the fed started cutting rates was september 2007. You recall it was a month before the last time. The time before that was january 2001. We were already in a bear market at that point. Stuart so this hope that the fed will lower rates and bail us all out, thats a faint hope. Yes. Stuart lets deal with the china trade deal. The idea that you might get some kind of deal this week, even if its a minor league deal, thats not exactly a really bright hope, is it . Its not. I think that the probability of that changes day to day. I dont have a better view on that than you in terms of whats going to happen. I personally think, im on the optimistic front that eventually we will get a deal but before we get a deal, it will probably feel like were not going to get a deal. Thats the point, from the markets perspective, theres a lot of positivity priced in there, with probably a little more downside volatility to be expected. The last thing thats most important, especially because we are going into earnings season, is that people are hoping for earnings rebound, but i think stuart the forecast is that the s p 500 will show a 2 drop in profits compared to the same time last year. Thats right. Stuart thats the forecast. Thats the forecast. Stuart now, some of the analysts, i dont know whether you are included in this, some of the analysts will lower their forecasts on the grounds that its easy to beat them and look good. Right. You have seen that every single earnings season. I mean, as far as i can remember. But every single earnings season, this year, they forecasted negative earnings number and its actually come in slightly positive. I think this may be the quarter where stuart if that happened, if that happened, big plus for the market . If we come in on the plus side for earnings, not the downside . Depends on it depends on the internals of it. Last quarter we came on the Positive Side<\/a> of it but actually, net income was negative. So the only reason you had positive Earnings Growth<\/a> was because they did some buybacks in the quarter. If you look at the components, most sectors were showing slowing growth and all the cyclical stuff. The economically sensitive stuff had significantly negative numbers. Thats probably going to broaden out this quarter. I think the internals are going to matter a lot. Stuart can i say the following. Dan suzuki is not wildly bullish about the market right now. Correct. I think the risk reward getsing worse and worse. Thats not to say we cant hit new highs by the end of the year. I think we will also see more volatility. Stuart since you have been talking we hit the lows of the day. This is the second time in a row you have done this. You will never be back on this show. We are down 332 points. Dan, thanks very much for being with us. I want to turn to apple. The guy who follows apple as closely as anybody on wall street, dan ives, managing director of equity research. Now, you are a big apple watcher. We have had people on this program saying that stock is going to 260 or more. What do you say . Yeah, i think we are in the early innings of really a massive step up in terms of the stock price. Because of iphone 11. Right now, we think chinas tracking about 20 ahead of expectations. I think this is a name thats going to make new highs over the coming weeks and months, despite the overall u. S. china trade battle which i think is about 20 to 25 overhang on apple stock. Stuart you say a massive increase in its stock price. Because of the iphone 11. I didnt know it was that good. Its all about the install base. About a third of the 900 million iphones worldwide are in a window of an upgrade opportunity. I think what youve seen over the last few weeks, from our data points in asia and others, is that this is really something thats going to surprise the market on the upside. I think you combine that with services, thats the onetwo punch to get to 245, 250 plus stock. Stuart thats what youre looking at. You are looking at 245, 250, in this immediate cycle. I continue to think thats the next step. Ultimately i think as we go into next year, you could see a stock that starts to approach even much higher highs as the services business, which we think is worth about 400 billion, 450 billion, starts to factor into the stock. Right now, many yell fire in a crowded theater and they continue to prove it. Stuart a bull on apple bigtime. Yes, indeed. I want to talk tesla with you. I know you follow it. Their profit report is coming up. I dont know exactly when, couple of weeks time, i think. You say its make or break for tesla . Fork in the road. Because it comes down to demand. We have seen a step up over the past few quarters but if they dont guide to profitability for q4 into next year, i think there could be some darker days ahead. Thats why on tesla, i view it as some win for the bulls in terms of demand of model 3 but a lot rests on china and europe as we think the u. S. Demand continues to wane. Stuart you would buy apple but not so sure about tesla. I think tesla continues to be a step down in terms of how i view that stock. I think going into earnings, just like we saw last quarter, i think the bulls could have their dreams and hopes broken yet again if profitability gets kicked down the road by musk. Stuart we dont have many analysts on this program because they are rarely definitive. You break the mold, dan ives. You tell us exactly what you think is going to happen. We appreciate that. Welcome back. See you again soon. I want you all to check this out. That is the new all electric hypercar. Its not a tesla. It was built by a guy who bills himself as the croatian elon musk. 2,000 horsepower in that thing and it goes from zero to 60 in 1. 8 seconds. That is a tenth of a second faster than the top of the line tesla roadster. No word on a production date or a price but it sure looks good. And its fast. Can you imagine . Bitcoin is at 8,200 a coin as of now. The price of gold is just above the 1500 per ounce level. It is 1508. The price of oil, im pretty sure is around 52 a barrel. Confirm, please . Yes. 52 a barrel. Not exactly highpriced barrel of oil, is it. That brings us right to this story. Gas prices in california. Almost double the National Average<\/a>. We will get to that in a moment. Wait until you see what they are actually paying out there. Also in california, the great tax exodus. A new study claims high taxes in the golden state are forcing millionaires out in large numbers. Weve got the number for you. Our next guest says for all the attention placed on President Trump<\/a> and impeachment, the 2020 dems have been left out. Really . Thats really bad week for them, i would say. Nobodys talking about them. Going back to the doctor just for a shot. With neulasta onpro. Patients get their day back. To be with. Family. Or just to sleep in. Strong chemo can put you at risk of serious infection. In a key study. Neulasta reduced the risk of infection from 17 . To 1 . A 94 decrease. Neulasta onpro is designed to deliver. Neulasta the day after chemo. And is used by most patients today. Neulasta is for certain Cancer Patients<\/a> receiving strong chemotherapy. Do not take neulasta if youre allergic to it or Neupogen Filgrastim<\/a> . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome. Have occurred. Report abdominal or shoulder tip pain, trouble breathing. Or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes. Fatal crises can occur. The most common side effect. Is bone and muscle ache. Ask your doctor. About neulasta onpro. Pay no more than 5 per dose with copay card. Stuart people are leaving the formerly golden state of california. Deirdre, we know the millionaires, they want to give me some numbers. Deirdre . 8 of wealthy residents who would have had to have paid the top tax level, left the state. Maybe that doesnt sound like a lot but its a lot, even the people who did the research say this is abnormally high. Their words, not mine, when compared to years prior. The more interesting number is by the fact these millionaires have left, 45. 2 of the windfall tax revenues have been lost to the state of california since the year 2013. In other words, california has been incrementally up and up and up. You now have for the top 1 , 13. 3 is essentially what millionaires are paying and a lot of them,. 8 , have just said no, thanks, were going to go to states where there is either zero income tax or zero property tax or they are looking for just better propositions. I also want to point out interestingly enough, as we know, new york, new jersey facing the same kind of windfall and democratic governor of the state andrew cuomo even already expressed concern about this, saying we had a budget deficit, 2. 3 billion, we cannot keep taxing people because they will leave. Even on the democratic side, they are seeing this doesnt work out. Stuart i can see that. Its a flood. It is a flood. Got the numbers on it. Another california nightmare. The price of gasoline there. The National Average<\/a> for regular is 2. 64 a gallon. In california its 4. 18. Why . Ashley yeah. Well, lack of supply is a big problem here. 1. 7 of 25 refineries had issues and interrupted the flow of gas into california. By the way, the gas that californians have to use mandated is more expensive, got more oxygen in it, theoretically puts less pollution in the air. This is the highest prices in over five years. You say 4. 18, at many locations its now up to 5 a gallon. Thats just regular gas. The average around the country, what, 2. 65 . Yeah. This is a problem because when we go out of the busy summer season, the cost is supposed to go down. We have not seen that. There are those that say maybe within the next week or so, those prices should come down but california always has the highest prices. Stuart california has the highest poverty rate in the nation. All those poor people ashley that hurts. Stuart 4. 18 a gallon if not more. If youve got a High Performance<\/a> car and you need premium gas, im sure the average is five bucks or more. Ashley everyone drives big suvs these days. Its expensive, to say the least. Stuart dont say we didnt cover the story. We did. Let me get to the 2020 democrats. They have taken a back seat, thats my opinion, with all this impeachment talk. What about bidens low fundraising numbers or bernies heart troubles or Elizabeth Warren<\/a> saying she was fired from a teaching position because she was pregnant. That turned out to be incorrect. Kelly sadler, America First<\/a> action pac, joins us now. Kelly, we dont hear about much from whats going on with the democrats. Its completely taken over by impeachment talk. Before you get launched here, im going to put it to you. You republicans, you dont play politics very well. You should be trumpeting the democrats problems. Instead i dont hear anything about it. Well, let me tell you a little bit about it. Joe biden posted Third Quarter<\/a> fundraising numbers, 15 million. That doesnt sound so bad but when you compare it to Bernie Sanders<\/a> and Elizabeth Warren<\/a> who pulled in 25 million, he was even outraised by mayor pete buttigieg. These are not the numbers of a frontrunner. His campaign has already admitted that they have conceded they could lose iowa and new hampshire, that South Carolina<\/a> is their firewall. If you look at joe biden on the campaign trail, hes nowhere to be found. Hes not answering questions about his son, hunter biden and his business dealings in the ukraine. His press team is getting very aggressive with reporters telling them what questions they should and should not be asking. And all of this is coming to a head. I think joe biden, you see it in the polls, hes losing his frontrunner status. Stuart he loses his frontrunner status. Bernie sanders has had a heart attack, wont be back on the campaign trail at all, i believe, until the debate next week. And Elizabeth Warren<\/a>, she did indeed, she incorrectly stated that she was fired from a teaching job years ago because she was pregnant. That turns out to be not true. So i mean, who is going to be the democrat frontrunner . Whos going to be the democrat nominee . Who do you think . I mean, at this point its a tossup. I have been hearing rumors that Michelle Obama<\/a> might come in at a contested convention. Stuart i have heard that. I think its really up for grabs at this point. If you look at Elizabeth Warren<\/a>, this was the central theme in her stump speech throughout the summer, that you know, she was fired from her job after she was visibly pregnant. This is how her victim status, how shes identifying with people and thats patently untrue. The Washington Free<\/a> beacon brought school board papers saying she basically resigned from her position. She says that she was native american, she was never native american. She says shes a capitalist. Shes clearly a socialist. These are all lies that Elizabeth Warren<\/a> has been peddling and will need to be held accountable for. And the wall street journal, speaking of age with Bernie Sanders<\/a> and we wish him the best, but you have three frontrunners who are all over 70 years old and they were speaking to voters in iowa and this is something that quietly a lot of democrats are talking about, and are quite frankly very concerned about, will any one of these three frontrunners have the stamina to compete against donald j. Trump. Stuart please remember that i am over 70. Then again, i am not running for the presidency. I wasnt born in america. Kelly sadler, thank you very much indeed for joining us. Good stuff indeed. Thank you. In response to the vaping crisis, californias number one Cannabis Testing Lab<\/a> purchased 18 black market vapes and tested them. They found all types of things wrong with the black market vapes, from pesticides to cyanide included in the little pod there. You will hear the full results in a moment. What do you look for when you trade . I want free access to research. Yep, td ameritrades got that. Free access to every platform. Mhm, yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. Stuart marijuana stocks on your screen right now, some of them taking a beating recently, and news about weed, marijuana, in maine. Legalization slated for march of next year. After four years, that would be four years after voters initially approved this move, it is going to happen march next year. Legal cannabis in maine. Our next guest is the chief executive of a Cannabis Testing Lab<\/a> in california. He tests vaping cartridges against illegal, not illegal, but black market cartridges. Whats the result . Whats the difference here . I want to bring in aaron sadler sorry, aaron reilly, ceo of this lab, this testing lab. First of all, lets go through this so everybody understands it. First of all, you tested legal, established vaping devices. What did you find in them . So we continually test for the top brands in cannabis. The way the regulations are set up is when they fail those products never make it to market. We did a comparative study, testing over 100 products from these licensed brands and none of them contained vitamin e acetate or pesticides. Stuart you tested 100 legal vaping devices and you found none of those dangerous chemicals in them, right . Thats the start . Correct. That was actually over 100. Stuart over 100. Okay. Then you tested black market vaping devices. What did you find . So the results were shocking, to say the least. Every single one of the black market cartridges contained high levels of pesticides. That was 100 of them. About 90 of them contained vitamin e acetate and they were all mislabeled. There was a lot of problems. Stuart okay. Okay. Youre saying the result of your study is that this vaping problem which has been in the news recently is really a black market vaping problem. Thats it . From the data weve seen i would say its really concentrated in the illicit market. To say 100 of the illicit market cartridges we tested wouldnt pass california regulations are pretty telling. Stuart now, some people will say look, youre just talking up your own book. You are a part of the marijuana industry, you want to establish legal vaping as a good part of the industry, and that thats the result youve come up with. What do you say to that challenge . So that challenge, mean, we deal with it all the time, obviously, with all of our clients. The way that the regulations are set up in california is we are really strictly regulated. We have an independent accreditation which checks our quality control, its basically a Third Party Auditor<\/a> coming in and making sure that were doing what we say were going to do. Stuart okay. Now, lets go back to the black market vaping devices. What dangerous chemicals did you find in there . So the most common pesticide we found was trade name equal 20. When you combust that it turns into Hydrogen Cyanide<\/a>. Stuart that sounds really bad. Its not something that i would want to consume and i wouldnt recommend it to any other consumers. Stuart tell me again what proportion of the black market vaping devices turned up these dangerous chemicals. 100 of them had pesticides. Stuart ouch. That is damning indeed. Aaron, thanks very much for joining us. Thats a very important study and we appreciate you bringing it to us today. Aaron riley. Thanks for having me. Stuart see you again soon. Thank you. All right. I found that fascinating. Ashley yes. Really. Stuart more varney after this. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero. Aetna takes a total approach to your health and wellness with Medicare Advantage<\/a> plans designed for the whole you. And monthly premiums starting at 0. Plus hospital, medical and Prescription Drug<\/a> coverage in one simple plan. And Health Coaching<\/a> and fitness memberships to help you age actively. So you can be ready for what matters most. Call today. Well send you a 10 visa reward card with no obligation to enroll. Or visit us online at aetnamedicare. Com tv im friends with george bush. In fact im friend with a lot of people who dont share the same beliefs i have. Were all different. We have forgotten were all different. Just because i dont agree with someone on anything, doesnt mean i wont be friends with them. Stuart i like to hear that. That is Ellen Degeneres<\/a> was viciously attacked with social media a picture was taken with george w. Bush at a Football Game<\/a>. The media said, not the media, but the social media said, oh, you cant do that. You cant rub shoulders, you cant do anything with the enemy who is a conservative. She turns around and says, hey, just because we disagree down mean we cant be friends. Ashley interesting. Lawrence jones he said that is good but agreed with you. Ellen had been guilty he said of doing the same thing to others. Hopefully she learned her lesson youre allowed to hang out with people you enjoy with hanging out even politically on issues you dont agree with them. Stuart i was very glad to hear her say that. That stand in stark contrast with what were doing with the nba in china, american executives. Their freedom of speech is vastly restricted by china. We also saw that the department of Homeland Security<\/a> acting chief literally shouted down at Georgetown University<\/a>. Were talking about free speech here. It is under attack in all its forms all over the world and i think its a terrible thing. Ashley it is. Political divides goes to antiestablishment and the elites. Those on either side, antiestablishment want to be heard but cant be because theyre shouted down all the time. Stuart two themes, free speech a market decline. Were down, what, 285 points. It has been that way for most of the morning. My time is up. Neil, it is yours. Neil thank you very much. Hopes for a trade deal are getting slimmer and slimmer. Maybe we did this or chinese did this we know the chinese stock market taking a drubbing today. A lot has to do with late entry demands that could be torpedoing talks even though theyre a couple days off. Edward lawrence at white house. Hey, edward. Reporter the talks have soured this week. It is a tough environment to try to get a trade deal with all this going on. The chinese very upset that 28 new Chinese Companies<\/a> and entities added to the u. S. Entity list for National Security<\/a> concerns but also human rights violations","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia801004.us.archive.org\/18\/items\/FBC_20191008_130000_Varney__Company\/FBC_20191008_130000_Varney__Company.thumbs\/FBC_20191008_130000_Varney__Company_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}